Banking and Payments in South African Casinos

Online casinos are flexible when it comes to banking. Their goal is to make it as easy and convenient as possible for you to top up your account and withdraw your winnings. As a result, the best casinos support a variety of payment methods that you can use.

Credit and Debit Cards

Electronic Funds Transfers - EFTs

E-Wallets

Prepaid vouchers

Cryptocurrency

Wire Transfer

Casino Banking: Popular Payment Methods in South Africa

There are a variety of payment methods that you can use to deposit money in your online casino account. All of them are quick, convenient, and safe. Depending on your preferences, you can use anything from classics like a debit card to modern solutions like cryptocurrency or E-Wallets to top up your account. Each of them have their own pros and cons.

Credit and Debit Cards

Credit and debit cards are a traditional payment method in online casinos across South Africa. Their main advantages are that the payments made using them are quick, safe, and cheap: the payments made using them are instant, and won't cost you a cent.

The downside of bank cards is that they are not universally available in South Africa. Plus, they sometimes come with extra verification requirements.

Popular Credit and Debit Cards in South Africa

• VISA
• MasterCard
• Diner's Club

Instant Electronic Fund Transfers - EFTs for Casino Banking

Instant EFTs or direct deposits represent digital direct payments from one bank account to another. These transfers are automated and without the need for paper documents. EFTs are simple, accessible, and safe. And most importantly, they work without the hassle of using a credit or debit card.

Like all other payment methods, instant EFTs have their downsides. For one, they are difficult to reverse, and in some cases, there may be fees involved.

Popular EFTs in South Africa

• OZOW
• Peach Payments
• SiD
• Bank2Bank

E-Wallets

E-Wallets are widely used by South African online casino players. They are another way to instantly top up your casino account without the need to share your banking or card details with the casino. E-Wallets can also be used to instantly withdraw winnings (after the appropriate verifications and approvals, of course).

The downside of e-wallets is that they aren't exactly cheap. Using them always involves transfer fees, and in some cases, exchange rates that are not to your advantage. Plus, you'll need a card or a bank account where you'll have to withdraw your money, and the transfer from the wallet to it is not instant - it can take some time.

Popular E-wallets at South African Casinos

• Skrill
• Neteller

Prepaid Vouchers

Prepaid vouchers are a quick and convenient solution to turn your cash into money you can spend online. They can be purchased at a huge variety of outlets, from vending machines and retail stores to gas stations, spaza shops, informal vendors, and mobile banking apps. You can use a voucher to instantly top up your casino account with cash, without the need to deposit the money to a bank. Simply paste the voucher PIN into the appropriate field in the Cashier section and you're done.

The downside of prepaid vouchers is that not all South African online casinos accept them.

Popular Prepaid Vouchers in South Africa

• 1ForYou Voucher
• Blu Voucher
• OTT Voucher
• Hollywoodbets Voucher
• Betway Voucher

Mobile Banking Apps

You can transfer money directly from the leading mobile banking apps to your casino account. Apps like Capitec Pay or NedBank make it easy for you to top up your account and withdraw your winnings. The process is streamlined to make transfers quick and easy.

Cryptocurrency

Gone are the days when only crypto casinos accepted cryptocurrency deposits. Today, an ever-increasing number of traditional online casinos accept deposits in at least a handful of cryptocurrencies, including Bitcoin, Litecoin, Bitcoin Cash, and some others.

The downside of cryptocurrency deposits at casinos is that they are made through third-party services, and this can imply extra fees. Also, only a handful of cryptocurrencies are supported by online casinos.

Deposit Methods

When it comes to deposits, South Africa's online casinos are very flexible. Many of them accept deposits made using all the methods we described above. But not all of them support all deposit methods. Card payments and EFTs are pretty much universally available in South African casinos, but prepaid vouchers and crypto payments are only supported by some. Check our online casino reviews for more details about the deposit methods they support.

Withdrawal Methods

Online casinos are not that flexible when it comes to withdrawals. Some casinos only support a handful of withdrawal methods, like cards, bank transfers, EFTs and e-wallets. Make sure your online casino of choice supports your preferred withdrawal method before diving in.

Deposit and Withdrawal Limits

Each casino has its own policy on deposits and withdrawals. This includes limits on the minimum and maximum amounts of your deposits or withdrawals. Each payment method has its own minimum deposit amount, and some bonuses also have required minimums set in their terms. When it comes to withdrawals, there's also a limit for each payment method - both for the minimum and the maximum amount that you can withdraw in a single session.

Note that some casinos will limit your deposits until you complete FICA or KYC verifications. The casino will let you know of these limitations and requirements.

Processing Time

When you deposit using certain payment methods, like credit and debit cards, e-wallets, and prepaid vouchers, your deposits are processed instantly. Other deposit methods take longer to be processed - this is not the casino's doing, the payment processors often take some time to validate and process the transfer. This means that you can top up your casino account and start playing almost instantly.

Withdrawal Times

Withdrawals are a different matter altogether. While the transfers themselves are just as fast as when you make a deposit, there's a lot of red tape involved when you try to withdraw money from a casino. Before you can initiate a withdrawal, you will have to:

• Verify your identity. Licensed South African casinos require you to prove you are who you claim to be by completing the FICA's verification. To verify your account, you'll have to submit documents like a photo ID, a utility bill or a recent bank statement showing your address.
• Verify your payment method. Many casinos ask for extra verifications to make sure the payment method you used to deposit - and which you'll use for the withdrawal - is indeed yours. For this, you'll have to submit a photo of your bank card or a screenshot of your e-wallet profile page.
• Clear all bonuses. You shouldn't request a withdrawal while you still have active casino bonuses in your account. This goes against the Terms and Conditions of most South African casinos. In some cases, you simply won't be able to request a withdrawal. In most casinos, in turn, the bonus you received and any winnings from it will be forfeited if you request a withdrawal before completing any playthrough requirements.
• Play through your deposit at least once. Some casinos require you to play through the amount you deposited at least once before you can withdraw any money.

All these can affect the processing time of withdrawals.

Verification

FICA and KYC verifications and payment method verifications can take a day or two to be completed. Clearing bonuses is another matter - this depends on how big the bonus is and what the requirements are. Some casinos will only process withdrawals on specific days of the week, and few of them do it on weekends and bank holidays.

The Best South African Banking Methods

Which is the best banking method at South African casinos? Well, it all depends on which one you prefer and which ones you are familiar with. But looking at them in a pragmatic way, these are the payment methods we consider the best:

For Deposits: Prepaid Vouchers

• Widely available: Prepaid vouchers can be bought at retailers, Kazang vendors, ATMs, mobile banking apps
• Instant deposit: The money will show up in your casino account as soon as you redeem the voucher
• No hidden fees: You pay all fees involved when buying the voucher. When you deposit, you can use the entire amount to play.

For Withdrawals: Debit Cards

• Robust security: Card transfers are among the most secure payment methods today.
• Transparent fees: You always know how much it will cost you to withdraw your money from the casino
• Immediately available: While it may take a few days for the money to arrive in your account, you'll have instant access to it.

Casino Banking FAQ